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Mr. and Mrs. Kim bought a vacation property, paying $3000 as a down payment and making further payments of $1000 every six months for 12

Mr. and Mrs. Kim bought a vacation property, paying $3000 as a down payment and making

further payments of $1000 every six months for 12 years. If interest is 7% compounded semiannually,

what was the cash value of the property?

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